Gold stream on Sabre Gold’s Copperstone Gold Mine – a previously producing, construction-stage mine in Arizona
Sabre Gold Mines Corp.
Gold Stream of 9.9% of gold produced until a cumulative 21,000 ounces are delivered;
then 3.3% of gold until a cumulative 27,000 ounces are delivered; then 1.2% of gold produced thereafter. Cash payment per ounce of gold delivered equal to 25% of the average LBMA gold spot price.
US$18 million in three US$6 million tranches
- Near-term production: Copperstone is expected to achieve commercial production within 12 months of financing completion.
- Tier 1 jurisdiction in Arizona, USA: The mine restart plan envisions an approximately 550 tonne-per-day underground operation and whole ore leach process to produce gold doré on site.
Copperstone is a past-producing gold mine located in western Arizona, USA, approximately 230 km west of Phoenix and has year-round access. The project sits within the Walker Lane gold trend, a mineral belt hosting a total known gold endowment of over 40 million ounces.
The Copperstone Project is presently under construction and re-development as an underground operation. Over 500,000 ounces were produced from 1987 to 1993 by Cyprus Minerals via open pit methods. Sabre Gold estimates that over US$100 million in mining and processing infrastructure remain in place at Copperstone allowing for relatively modest restart capital costs.